2022 Capex Trends: MEG, CNRL Expect Strong Crude Prices, Differentials To Continue

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MEG Energy Corp.’s top executive is increasingly bullish on crude prices and the Western Canadian Select (WCS)-West Texas Intermediate (WTI) differentials.

“It’s interesting. Obviously, there’s a lot of focus on where WTI today is … but the really interesting one is where do we see differentials. I mean today, differentials are trading in the U.S. Gulf Coast for WCS or AWB in that $2 to $3 range, which is showing the tremendous demand — worldwide demand — for this product,” Derek Evans, president and CEO, told analysts on a conference call to discuss Q4 and year-end 2021 results.

To read the Daily Oil Bulletin’s latest guidance report, which features announcements made Feb. 28-March 4, 2022, click here to access it directly, or click on the Guidance tab on the DOB website.

The guidance report provides 2022 forecasts for capital spending, drilling and production for companies headquartered in Canada and the U.S.

Data for the report is powered by Evaluate Energy.

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